$19.98
-0.29 (-1.43%)
Copano Energy, L.L.C. (CPNO)
CAPS Rating:
The Company is a growth-oriented midstream energy company with natural gas gathering and intrastate transmission pipeline assets and natural gas processing facilities in central and eastern Oklahoma and in the Texas Gulf Coast region.

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Unlike MLPs, CPNO is a LLC. That means no general partner and no incentive distribution rights to suck money out of the revenue stream. Free cashflow goes straight to the unitholders and cost of capital for new accretive projects is less compared to an MLP.